Rx for troubled times – Growth planning

As you wind down from what can only be called the most challenging year since 2001, getting ready for some rest and hopefully spending time with friends and family, I would like to plant a seed with you.

There is no doubt about it. Times are hard. elevator panel

You have a choice as a leader in this industry. When you stand in front of an elevator, you can choose to press the Up or Down button.

Today you can choose what 2009 will look like for you and your company.

Conventional wisdom says, cut back. It says that decline will happen, as if you are a victim. You are going down whether or not you choose that button.

Uncommon wisdom says that cutting spending is prudent but
building revenues and planning for growth in better times ahead is smarter. It says to invest in innovation. There is no better time. You can choose the up button for you and your firm, even if other people elect to just hunker down and play the hand that has been dealt to them by the economy.

Solutionz would like to recommend a Rx for lean times that leads to growth.

MOVE ON REVENUE GENERATION — you have the products and services; now is the time to explore tools to service new markets, and determine how to do more with less.

BE CAREFUL HOW DEEPLY YOU CUT – As you cut back on spending, it is inevitable that staff cutbacks will rank highly as a way to improve the bottom line. Earlier this year, many of you already cut out the fat [non-performing staff] and in the fall you began to cut into the muscle [experienced and talented staff ready to take a package]. Now you are having to look at cutting into the bone of your organization [seasoned middle managers not afraid to roll up their sleeves or worse, cutting your sales force]. Keep the “total picture” in mind when making cuts – work ethic, tenacity, experience, expertise and maturity versus pure salary.

SHIFT CHANNELS – effectively choose high yielding, and variable cost channels. Recognize that this may not be your own direct channel. We can help you do the math.

INCUBATE NEW IDEAS – with low risk and sustainable benefits. Getting an outside perspective can help, particularly at a time when internally morale may be low and resources may be scarce.

CONSIDER ACQUISITION – As you look at how you can innovate and how you can grow, consider a merger or acquisition as a way to expand your capabilities and your reach. We specialize in assisting you in targeting partners and also in assimilating the merged entities post transaction.

VISUALIZE MOMENTUM AND GROWTH – Plan only for decline and that is where you’ll go. Plan for and focus on growth at the right pace and you’ll be at the head of the pack – well funded, growing, and strong.

When you are ready to choose growth, choose Solutionz to help.

Chicke Fitzgerald

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